The latest developments in the technologies have directly impacted the market of several domains especially human resource. The rapid evolution of HR administrations from tedious paperwork to in-depth employee research, wrong placements to finding the best fit and frequent turnovers to future-proofing employees has bewildered the industry and its traditional work models. In an article issued by the Society of Human Resource Management, it was revealed that investors, who were seeking to adopt the breakthrough technologies benefitted with more than $2 billion into HR tech systems and platforms in the year 2016 than those who were slow to recognize.

HR platforms have become high-tech and data-driven in tandem with digital technologies. Fully functioned and user-friendly software has eliminated the requirement of manually records keeping and simplified employee recognition with robust and enhanced HR management processes.

The Non-stop Growth of HRMS

A report of Bersin by Deloitte showed the swift wave of the revolution occurring in the human resource world bringing HR evolution and its market growth. It basically covered the major years of HR market evolution that were from 2000 to 2016. Transferring from mainframe computers to personal devices was one of the major shifts in the tech world. The change in trend fueled the software development growth leading to agile HRMS development. Features like record keeping, in-depth research, hiring, payroll, and learning management became way easier to access than ever.

Leaping into a Cloud-Based System for Higher Flexibility

Companies have always opted for HRMS to reduce mundane or repetitive tasks and storing information securely. However, the coming years will witness a new trend along with task completion that is cloud-integrated systems. The technology advancements have opened a new door for the companies to store and access their data from any part of the world. More and more companies are rapidly swapping the concrete HR software with cloud-based HR solutions for availing this very feature. Other benefits tagged along with the cloud-based system are anywhere access, user-friendly, lesser maintenance, mobile app support, easy upgrades and, most importantly, slight or no requirement for full-fledged IT infrastructures like hardware and trained staff.

Integrating Social Media and Learning Management into the Process

It can be said that somehow social media regulates every trend. The platform offers fun ways to communicate and pass messages via effective hashtags and emojis to the uncountable number of audiences in real-time. Not only this, but it can also send social recognition messages to employees to boost employee recognition. Today, many HR companies are integrating the latest web-based technologies to conduct candidate interviews faster than any human. Visual element features backed with AI and VR in HR software will become a mainstream learning platform in the coming years to educate and train the employees with the latest advancements.

Predictive Analysis

HR companies are seeking more incorporated approach to enable transparent communication models. The end-to-end technology-enabled platform for communication has helped companies and their humongous amount of data to be accumulated and shared across departments and even organizations in real-time. Companies across the world are investing handsome money on predictive analysis model to harness employee data for their benefits. Furthermore, it allows conducting surveys, culture assessments, employee recognition and rewards, and every other feature necessary for employees as a one-stop-shop for HR.